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CNBC
Feb 10, 2010 11:00am EST
call." i am trish regan and we are 09 minutes into today's trading. market lower amid ben bernanke's comments and we'll talk about the fed's exit strategy and what it means for your money right now. hey there, larry. >> hey, trish. i'm larry kudlow, conflicting reports on whether there's a european plan to bail out greece. we'll have a live report from brussels and we'll discuss what needs to be done right here. good morning, melissa. >> as toyota's problems mount we ask are cars just too overengineered and sophisticated computers doing more harm than good. this is "the call" on cnbc. >>> it looked like it was going to be a positive day on this snowy morning in new york city as traders remained optimistic that there would be a bailout for greece, but then germany said there was no imminent plan and the rallies stalled and after ben bernanke announced the fed's exit strategy. take a look at how the s&p 500 is trading. it is down seven points on the day and it's two-thirds of a percentage point. take a look at the dow, it's down 59, almost 60 points and that's 0.1% and sitting below
CNBC
Feb 10, 2010 9:00am EST
not agreed to anything yet. >> and ben bernanke will be releasing his ideas on how the fed is going to pull back from its current role of propping up the economy in every way, shape, and form. we're going to have that live at 10:00. i know his comments are coming out, mark. i'm not sure if he's actually going to physically be there because you know in washington it's a little snow. what are they going to do? >> i think they now have a total of 50, five zero, inches on the ground. >> yeah, yeah. >> we also have big snow issues in new york, baltimore, philadelphia, airports closed, schools closed. it's a real mess. this is a live picture. >> wow. >> well, it was a live picture of reagan national airport. it is empty. >> that's amazing. it really is. mark, you know i remember when there was a forecast of snow things would be shut down and called off and to your point pretty incredible what has been going on there. snowmageddon. that's an amazing picture, live. no one at the airport. >>> the futures right now are plus 0.70 on the s&ps. we needed 1.42 to get to fair value. so it's very close to
CNBC
Feb 10, 2010 6:00am EST
on a bailout for the debt-strapped country. >>> on exit strategy, ben bernanke unveiling his plan for the fed's next move. and the house of mouse, disney posting strong quarterly results and investors are responding. a cnbc exclusive with ceo bob ieger, "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick. joe and carl are out today. steve liesman is spending the week on set with me and this morning we are joined by "fortune" magazine editor andy soerwer. >> good to be here. >> meantime, wall street is bracing for a winter storm this morning as the second snowstorm in a week descend eds on new york. washington, philadelphia, they are expected to be hit and hit hard. the federal government in washington is closed for a third straight day at an estimated cost of $100 million in lust productivity. government offices in boston, baltimore and philadelphia all announcing that they will be closed. congress, by the way, is canceling votes and rescheduling hearings. the united nations headquarters in new york city shutting down schools all th
CNBC
Feb 25, 2010 6:00am EST
, fed chairman ben bernanke has returned to capitol hill this morning. and investors are looking for more clues on the central bank's next move. and the markets at this hour have u.s. equity futures under a bit of pressure after yesterday's rebound as "squawk box" begins right now. >> welcome to "squawk box" right here on cnbc. i'm becky quick along with joe kernen at the cnbc world headquarters. carl is in washington this morning where president obama is hosting a televised health care summit. we'll have more from carl on that story. but joe, that's not the only news in washington today. >> no, it's not. we may pipe in that music with carl down there and he'll be looking good. he'll have his jacket on. >> he always looks good. >> yes, he does. also in washington, carl is there, but also this other guys that's going to show up. that's not really what all the scuttlebutt is going to be about down there. it's about carl. but ben bernanke will come back and testify on the hill today. yesterday he pledged to continue record low interest rates for, in his words, an extended period. >>
CNBC
Feb 10, 2010 12:00pm EST
much, sharon. we're not getting as much volatility today as yesterday although ben bernanke's tax did get a little movement. if you look at two-year yield it's slightly elevated and you look at the curve it's know changed. there's a potential for an exit strategy as depicted by that text. if you look at the next chart, indeed the euro versus the dollar has been mostly down, but it is bouncing back a bit especially in the last hour or so, keeping up with the headlines and some of those headlines, hey, the checks didn't have a good day and they sold an additional 150 million u.s. equivalent of their 15 year. they wanted to sell more, but portugal had better luck selling u.s. equipment of the 4 billion of ten-year note and let's hop across the pond and rebecca me ham. >> let's take a check of what's happening in europe and it's all about greece. no surprise there and we check on the fotse, the cac and the dax. 2.4% higher for greek eiquities today. we know we've had the european finance chiefsi having a conference call today. the ecb governing body is having a call tonight and tomorrow a
FOX News
Feb 10, 2010 3:00pm EST
the height of the economic crisis. ben bernanke was expected to testify but the hearing was canceled because of the snow. bernanke says the fed will likely raise it is interest rate it pays banks. raise the rate but analysts say that could hurt folks looking for consumer loans because banks have incentive to sit on their money rather than lend. this is the cycle and we're gob to move forward. bernanke says the move is months away and claims it's best for the fed to recoup the money it loaned out. you may wonder why would the federal reserve do something to make it more difficult to get loans? at the same time, the obama administration wants banks to extend loans to small business to say they can hire more workers. it's a central component of the job creation plan. major garrett has more. how can each happen at the same time, as if i didn't know? >> i've talked to senior administration officials and of course the federal reserve is an independent agency, the white house and treasury department don't like to talk about the policy but the federal reserve and government are more interlinked sinc
CNBC
Feb 26, 2010 6:00am EST
't you tell us what you think after hearing a couple days of bernanke's testimony on the hill. does it change your outlook on what the fed is doing? >> no, as long as they use the magic words, extended period, we know the fed will be on hold for at least six months. that's what bill dudley told us. he said extended period was the language the fed has put in the policy statement, means at least six months. it was a phrase repeated by st. louis fed president bullard recently. so whenever bernanke puts his word in on it as well, we can feel assured that the fed is not likely to move for at least six months. the fed needs to be very clear at this day and age. so if they're telling us that that's what extended period means, that's what it means. and so, until there's some other clarifying comments, that's what we have to go on. >> we had somebody who told us yesterday that maybe they could move 25, 50 basis points. it's not the extended period but they're focusing on the incredibly low rates. either one of you guys quily think that's the case? >> the focus is on the extraordinary program
FOX News
Feb 10, 2010 7:00pm EST
tonight. thank you. the federal reserve chairman ben bernanke laid out the blueprint for the fed's plan to recoup all the money it loaned out in the great recession and in turn winding down the stimulus program. bernanke issued a statement saying the fed will try to raise the interest rate it pays banks to keep money in the u.s. central bank. analysts say that way banks would be less inclined to put money on risky investments. but they also say that could hurt consumers because those banks would have more incentive to sit on their money and earn interest rather than lend it out to you and me. but, bernanke says the plan will not be implemented until the economy is on a firmer footing. on wall street, the stock market managed to steady itself before the closing bell today. after hearing bernanke's plans concerning the central bank, stocks suffered sharp early losses before reversing course later in the day. the market ended up just about where it started. the dow dropped 20 to close a little bit above the 10,000 mark. the nasdaq down 3. the s&p off 2. while the fed works on the financial
CNBC
Feb 26, 2010 11:00am EST
of that market. >> diane, where does this leave fed chief ben bernanke in terms of interest rates and where we're heading? i mean, by most consensus here people would anticipate and he has said that he's going to leave them in a very low rate environment for quite some time. how long is that time going to be? >> you know, i've had the fed not raising rates until december for my entire forecast and i'm starting to re-think they might not raise it until 2011. this is a very weak economy. so the weather exacerbates weakness, no question about it. we may recoup some of those gains and we may recoup some of them in march, but at the end of day when you've got people losing income when they're living paycheck to paycheck already, that's just an economy that's not as resilient. it just underscores the fragility of the economy that ben bernanke himself said yes, the weather is noisy and we have to go through it and at the end of day this economy is not looking that great in the first quarter. >> speaking of that, let's attack today's data. milton, real gdp was revised upwards to 5.9% for the first qua
MSNBC
Feb 10, 2010 12:00pm EST
a big eye there. let's get a check on wall street where fed chairman ben bernanke is making investments nervous. sfoks are down after bernanke outlined the ways fed can pull back on the $1 trillion being used to prop up the economy. today's house financial services commity hearing was postponed because of the snow in d.c. the fed decided to release bernanke's prepared remarks anyway. so we are going the keep our eye on how the markets respond there throughout the day. you can see as we stand still above the 10,000 mark but down 37 points on the day. stocks are low on fears any move by the fed to pull out money from the financial system could hurt the recovery. >>> the sex scandal surrounding john edwards is back in the news. today's the deadline for former aide to turn over an alleged sex tape. senior investigative correspondent lisa myers joins me now. has he done it yet? is the plan that he will turn it over during a court hearing? >> well, as of a couple of hours ago the tape was in the sheriff's office in north carolina. and was going to be delivered to the court around 2:00 today w
FOX
Feb 25, 2010 5:00am EST
that the company is revamping its recall procedures. ben bernanke is telling the house committee that lower interest rates are still needed ho help the economi economy rec. home sales fell to a record low level, that is the 3rd state drop. hummer is a goner. general motors is discontinuing the brand. the deal to sell hummer to a chinese company is falling through. >>> carnival is saying that prices are going up as business picks up. that is business, i'm sandra smith. >>> coming up the president of a state school is reportedly
FOX
Feb 25, 2010 6:00am EST
that was reiterated by ben bernanke on capitol hill, people started buying stocks. our futures are down right now so this roller coaster ride looks like it will continue today. >> i'm assure you were watching prosecute akio toyoda testified before lawmaker on capitol hill. what did you make of tat testimony and his appearance there. >> i thought he was very sincere. i thought that he was very good to speak in english and not do the ## (voice of translator): later as best he could. i thought congress was very easy on him compared to the way they treated tim geithner and ben bernanke and some others here over the last few months. but by and large, i think the meat and potatoes was the day before. i think that was when we really got to the crux of the matter what we needed to do and what congress needed to do as a governing body in relation to the situation. i think yes, there was more of an opportunity for the president to speak to the american people, the president of toyota, that is, and he did that. >> thank you, chris. we'll see you tomorrow. and here at hem, just what you thought it was safe tou
CSPAN
Feb 14, 2010 10:00am EST
room that we were very fortunate as a country to have in place. we had hank. we have ben bernanke. we have tim geithner, and we had sheila bair, the head of the fdic. and i know a lot people in finance. i know a lot of people in business. i know a lot of people in government. and i can't think of four that would have done a better job of getting us through that. now it's kind of fashionable now to look back and pick out one little aspect or another of what was happening then, but our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008 when the talk was, are our money market funds safe? now, when you have 3.5 or more trillion of funds held by 30 million people, who on a sunday night are worrying about whether they can get their money, that money was half of all the deposits held by u.s. banks at the time. you have a panic. you had commercial paper freeze up entirely, and you had some of the biggest companies in the united states, and some of them are described in this book, to worry about whether they're going t
MSNBC
Feb 24, 2010 12:00pm EST
-- to lowest level since world war ii. ben bernanke sunday pressure to explain how to wrap up the central bank's program to inject emergency cash into the economy. he testifying before house lawmakers today who sits on the financial services committee. his job is a tough one because the economy is still shaky and ending the rescue program too soon could put us back in dangerouster. hay told lawmakers the fed members believe the recovery -- the recovery will remain high the next few years. >> consistent with moderate economic growth, expecting the unemployment rate to decline slowly. to arrange 6 opinion 5 toerz 7 opinion 5% by the end of 2012. still well above their estimates of the long run sustainable rate of 5%. >> bernanke said he's also committed to keeping interest rates low and you can see how that isn't landing on wall street. the dow jones industrials up 87.5. s&p popped up 9. nasdaq is up 22. by the way, the securities and exchange commission just voted today to make new rules to limit short selling on stocks that drop 10% or more. the vote was very close. >>> an investigation of a p
WETA
Feb 10, 2010 7:00pm EST
efforts by raising interest rates. chairman ben bernanke outlined the effort in written testimony for a congressional committee. bernanke said the economy still needs an easy money policy for now, but he added: "at some point the federal reserve will need to tighten financial conditions." the talk of higher rates kept wall street at bay. the dow jones industrial average lost 20 points to close at 10,038. the nasdaq fell three points to close below 2,148. thousands of workers in greece staged a national strike today, protesting a government plan to freeze salaries and cut bonuses. the 24-hour strike closed schools, and brought air travel to a halt. we have a report from john sparks of independent television news. >> reporter: it's easy to say, the 24-hour strike closed greece filed a test case for other indebted states. its huge socialist government plans been cuts. for many here on the streets of athens today it is not acceptable. "the capitalist government has declared war on the working classes. we will respond with war-like measures," said this mp. the government wants to raise
MSNBC
Feb 25, 2010 6:00am EST
assurances by the federal bank. ben bernanke offered an up beat report on the nation's recovery yesterday. he told congress interest rates will remain low to encourage borrow ing. the dow rose 91 points after dropping more than 100 the day before. >> we have no idea which way the economy is going. bernanke has no idea which way the economy is going. >>> officials in florida are collecting eyewitness accounts in yesterday's deadly attack at seaworld, orlando, where an experienced trainer was killed by a 12,000-pound whale. the 40-year-old victim was snatched from the platform as the audience looked on in horror. witnesses say the killer whale thrashed her back and forth and dragged her under water. it's the third time this killer whale has been involved in a human death. >> the third time. a killer whale kills three times. the officials say they're not going to put the whale down wha killer whales do. >>> time to go to willie geist looking at what's going on in vancouver. willie? >> reporter: that's a terrible story, mika. let's move on to the olympics here. the hockey was the big story yester
CNBC
Feb 9, 2010 9:00am EST
. and with dr. bernanke scheduled to speak tomorrow, our sense is that that trade will be relatively quiet here. a high volume area last week was around 1064 even. we'll probably bing bong back and forth on that trade waiting for dr. bernanke or for further developments in europe. >> what's your view, jamie, about today's trade and whether you believe in the bounce we are likely to get, at least at the open? >> well, i think the most encouraging part is that this rally is coming from european financials. you can see all those works up markedly on yesterday's trade. domestically, local ibs have been overwhelmed by this european crisis. unemployment was a great number on friday. it exceeded expectations. earnings continue to be strong. we seem to have been weighed down by euro. if that turn around and those financials continue to hold these gains, it could be very good things domestically. >> jamie, most of the guys you trade with trade according to technical analysis charts and yada yada. let me run this by you. the day before yesterday, which was a monday, right? yeah. did monday look like a sh
CNBC
Feb 11, 2010 6:00am EST
concerns that the market has across the spectrum. and you've got bernanke talking about higher rates. fed funds are pricing in almost 100% probability that we have rates lower in march. if we start to see more rhetoric out of the fed with respect to what they're going to do with the rates, that is outside of market expectations right now currently. >> what are you telling people tow to do snt. >> right now, volt tilt is at a level to finance shorter purchases and hedges. given the uncertainty, i don't think it's fair to say that volatility is expensive on the front end. >> anthony, real quick, berna e bernanke's exit strategy speech yesterday, does it move up your sense of the timing for when the fed will ultimately tighten? >> it really didn't, steve. the federal reserve basically injected $1.5 trillion in the liquidity in the credit crisis. it would be irresponsibility of the fed to not outline a credit strategy. i think he made it very clear that he wanted to give us the thumb nails strategy of what this is going to be like. is he going to normalize the discount rate? yes. but remembe
CSPAN
Feb 26, 2010 7:00am EST
for banks in the country. host: ben bernanke referred yesterday to short-term political liability for this. guest: i think he is absolutely correct. people tend, under these kinds of conditions, to one to blame someone. the problem with that is there are plenty of people to blame. we deregulated the industry. the congress deregulated the industry. there was a culture, if you will, of deregulation. and this encouraged some of what i call speculative activities that led to the bubbles and then the collapse. yes, you had this reaction. i think it is an overreaction, and the outcome would be -- as you try to blame someone you get worse outcomes rather than better outcomes, and i think that is what the chairman was trying to communicate. host: does the banking committee and the members, are they right to be angry at the fete at all? guest: if they're going to be angry, i think they have to be angry at everyone, including themselves. they allow these organizations to get bigger and more risk oriented. and yes, and regulatory agencies because of this culture -- the regulatory agencies because of
MSNBC
Feb 24, 2010 10:00am EST
bernanke. t.a.r.p. was supposed to be used to counter the mortgage crisis, not to bail out the big banks. do you believe mccain was misled? >> no, i don't, monica. the night before on nbc nightly news, you may remember john yang had a record that feerchbd john mccain saying because of his experience, he was best equipped to rhett republic arizona. now, in western inventory knack ewe lar, this ain't john's first rodeo. when he suspended his campaign to go back to washington to sit face-to-face with those decisionmakers, now a couple years later, he's telling us he was misled? i have to tell you, this is isn't revision of history. that sounds more like john kerry in 2004 than the john mccain i used to work with. >> and the mccain camp is attacking your spending record. they have a radio ad saying you talk like a conservative, but you spend like a liberal. they're citing your vote for the bridge to nowhere. you supported the 2003 medicare prescription drug benefit. what do you think of those ads? what do you think of those allegations? >> well, first of all, with all due respect, i understa
NBC
Feb 8, 2010 11:00am EST
to be a bit lighter this week. and fed chairman ben bernanke wi head to capitol hill on wednesday to possibly give some clues as to when the fed will raise rates. >>> well, toyota is expected to announce this week a recalllan to fix the brake problems on the latest model of its prius hybrid. reports say the automaker will recall 270,000 priuses in the u.s. and japan and another 30,000 vehicles shipped to about 60 other countries last year. toyota is also looking into two other hybrids, the lexus h-2250 and a model sold in japan that have the same brake system. >>> and john thain has landed a new job. cit has hired the former merrill lynch and new york stock exchange ceo as its new chief executive. he arrived to work bright and early today around 7:30 a.m. the commercial lender is still restructuring its business after a brief stay in bankruptcy protection in december. cit says it hired thain based on his experience turning around the nyse. i wonder if we'll see more of these people pop back into the financial atmosphere. >> something tells me we will. >> have a great day. >> thanks. >>> our t
NBC
Feb 25, 2010 11:00am EST
yesterday. fed chairman ben bernanke testifying again today on the hill. this time the senate banking committee. we got economic numbers today. we start with the good. the durable goods orders rose in nuary thanks in part to aircraft orders. the gain was the biggest since last july. first time claims for unemployment benefits jumped by 22,000 last week. not a number we want to see jump to 496,000. labor department says the weather that shut down government offices, as you well know, may have been partly to blame. if that's the case, we'll see how this week turns out, too. and akio toyoda was choking back tears after receiving standing ovation at a rally with dealers and employees on wednesday. toyoda was grilled by lawmakers for more than three hours. he says toyota's top management will include a nonjapanese person. he is criticized for not having other nationality on the board. he was asked by an assembly line worker when the company can do to restore the public's trust. responding in english, he said, let's make a better car. and general motors will shut down hummer after they a de
CNBC
Feb 26, 2010 9:00am EST
's an interesting idea. bernanke yesterday mentioned that the spike in jobless claims might have been at least partly related to the weather. i would say there's a little more uncertainty than maybe mr. knapp suggests as to whether or not this is weather related or how much of a comedown we're getting from that fourth quarter gdp which was very strong and as you said revised up, erin, to 5.9% from 5.7%. it is interesting to look at the details and where the strength was to kind of figure out whether or not, how much of that is going to continue. what you see when you look at it is the consumer was pretty weak at one point, 7%, and nobody thinks that's going to be any stronger in this quarter. business spending was very strong. that's a wild card. that could continue. exports strong again and of course the big part of that not shown here are the inventories -- inventory numbers. this conference, though, is going to be about the fed policy and the fed's role put on here by the university of chicago's school of business. there are going to be no less than four members of the federal market commit
CNBC
Feb 5, 2010 12:00pm EST
word that ben bernanke is set to testify. >> i'm sue herera. there are some bright spots. travelers, at&t, walmart and dupont are among the dow's 30 winners. >> ppl beat the street. the ceo will join us first on cnbc. tyson foods smashing analysts' estimates. ate na pushing higher. we should get to the market. >> i'm dennis neil. let's get straight to this market action. let's go to bob pisani. >> here's a couple of headlines here. stocks close in europe at 1130, the stock market droops here. the second time in a row. guys in europe are getting concerned. they want to lighten up. second thing that happened that's important here, is dollarle rallied at the exact same moment we had yesterday. of course, what happens when that happens? it puts pressure on commodities and puts pressure on commodity stocks. all the big names in energy and the material groups on the weak side. and sharon, we saw a heck of a lot of contracts traded in oil in the last hour and a half. >> that's right. over 400,000 contracts traded today, bob, and this is the second straight day of massive contracts and massive
CSPAN
Feb 16, 2010 11:00pm EST
as a country to have in place, hank, ben bernanke kumbaya tim geithner and sheila bair the head of the fdic. i know a lot of people and finance and business and government. i cannot think of for that would have done a better job. but to look back of our country's financial system throes of during that period. some of you were in a party i was that in 2008 when the talk, when you have 3.5 four more trillion held by 30 million people on a sunday night are worried about whether they can get their money, that money was half of all deposits held in the banks at that time. you have a panic. you have commercial paper frees up entirely and some of the biggest companies described in the book worried if they would be payable in a short period of time. the sixth largest bank in the country with the maastricht staged domestic deposits and the third largest bank, wachovia, i needed a shotgun marriage on a monday morning and it just arrived this. interestingly the bookstores early september when fannie mae and freddie mac worry essentially bart -- broke. the two institutions guaranteed 40 percent of all res
CNN
Feb 17, 2010 11:00am EST
, in studying history, unless you learn from it, all the economic experts and bernanke and obama included, understood in the great depression the one thing they did not do is spend enough fast enough in order to stimulate the economy in order to create sustainable growth which obama and bernanke are doing. >> so, jeanne, why is this package viewed so negatively by so many in the country one year later? >> well, i think that the democrats didn't necessarily sell it as it was, you know, throughout the year. they went off and did health care and then came back to jobs. you know, 2 million people may have been helped by it. but another 8 million lost their jobs. so, more people are feeling pain than benefit. and so as a result, i think most people don't -- don't appreciate or really understood that, you know, it was a limited package. people thought it should have been bigger. it helped, but it didn't resolve the economic crisis we were in. >> wow. ryan, what's your view on that? why do you believe so many people have such a negative view of the package? >> i have to agree. we didn't sell it
CNN
Feb 24, 2010 6:00am EST
velshi later today. >> a lot of great stuff. >> ben bernanke will testify on the hill today. >> we'll get his prescription or a forecast on what will happen with the overall economy. a lot of questions. when will this economy be back to normal and what is normal? that means your job, home and bank. let's take a look at where we stand. the national association of business economics predicts job growth is on its way, forecasting 140,000 jobs per month will be added in 2010. in the new normal, no thing is ever as it seems. yesterday we found out mass layoffs rose last month for the first time since august. more than 180,000 folks fell victim to mass layoffs in january. we saw consumer confidence tumble. consumers are still very nervous. how about your house? your biggest asset most likely or what was once your biggest asset. one out of every four mortgages is under water. it means you owe more than the house is worth. foreclosure will continue. speaking of lenders, banks still in trouble. one out of 11 banks is at risk of going under. that's the problem bank lift, 140 banks were shut down la
CNN
Feb 4, 2010 11:00am EST
left the u.s. >>> ben bernanke has been sworn in for a second term as chairman of the federal reserve. bernanke vowed to preserve the fed's independence, despite a move in congress to tighten control over the central bank. >>> and preparing for a snowy weekend from 1 inch in new york to almost 2 feet in baltimore. meteorologist rob marciano tracking this massive winter storm. what's going on. feast appetizer. [dinner bell chimes] high quality ingredients like wild alaskan salmon in a delicate broth, without by-products or fillers. fancy feast appetizers. celebrate the moment. in the north of england to my new job at the refinery in the south. i'll never forget. it used one tank of petrol and i had to refill it twice with oil. a new car today has 95% lower emissions than in 1970. exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. >[t:p][n:e plastics which are lighter and advanced hydrogen technologies announcer: the smallest moments can have the biggest impact on a child
CSPAN
Feb 17, 2010 7:00am EST
the federal reserve to take the lead on this. citing mr. bernanke does not want to step up and -- i think mr. bernanke, unfortunately, does not want to step up and take responsibility. i think the administration put a good deal of capital to work to make sure that he stayed on as chairman of the fed. but honestly, it would require presidential leadership at this point. we see encouraging signs, but also discouraging signs. the president said nice things about big bankers and their compensation just last week. you have to ask the white house where we are on this issue. host: simon johnson is the author of an upcoming book, "13 bankers." when will this come out? guest: when wilthe end of march. i do not think this problem is going to go away anytime soon. host: wyoming, republican line. caller: i would just like to say a few things and please do not cut us off because we do not get a chance to get in as many times as the democrats and the independent line. i'm a conservative woman of color. i notice every time on c-span and i get to be disappointed. and i will get to my question. i notice a ta
HLN
Feb 24, 2010 6:00am EST
her terribly. >> some of the stories this morning at 10:00 a.m., ben bernanke is on capitol hill. all ears will listen to his take on job creation. this afternoon, the president will make his case for creating more jobs. it's going to happen at the business round table. >>> this afternoon in vancouver, fresh off the upset of team canada, the u.s. men's hockey team takes on switzerland. >> usa! usa! >> something tells me you are watching. >>> a star sentenced to five years in prison for shooting his limmo driver. it's been years coming. >> eight years in the running. this is a guy who literally had it all at one point. an nba all-star. one of the richest contracts in the league. prosecutors say he was playing with a shotgun, shot his driver, tried to cover it up. yesterday, a new jersey judge sentenced him to five years in prison. afterwards, he said he was sorry. >> i sincerely apologize for my actions that caused his death. i pray that today brings you some comfort. my children, you deserve a better father. son, brothers than i have been. >> he was apologizing to his victims there. h
CSPAN
Feb 16, 2010 8:00pm EST
in place. we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the money market funds saved. if we have 3.5 trillion fun missile by 30 million people who on is and they might are worrying about whether they can get their money that was half of all the process held by u.s. banks at the time you have a panic. you had commercial paper frees up entirely in the biggest companies of the united states and some are described in this book that worried whether they were going to meet their payroll and a short period of time to read the sixth largest bank in the country in terms of the domestic deposits, washington mutual failed over a weekend. you had the th
HLN
Feb 10, 2010 12:00pm EST
bernanke also kept the market in check. he outlined the plan that the central bank will follow once the economy has recovered. bernanke was scheduled to deliver the testimony in person to a congressional panel, but the wearing was postponed because of, well, the storm. weather permitting, tomorrow we'll get the latest readings on jobless claim ace long with earnings on pepsico and viacom. and did i happen to mention it's snowing here? >> yes. is it making you a little grouchy? >> i'm not grouchy, i'm not going home. that's what's happening. >> hang in there. one year after hayleigh cummings vanished from her home, we hear from her father in jail on drug charges. we're going to talk about that next. >> the nasty winter weather is making roads deadly. earlier we showed you the stretch of interstate 80 in central pennsylvania. we have now learned, at least one person was killed after about 50 vehicles were involved in crashes. this is all in clearville county. another is said to have a serious leg injury because of all of this. no one is really going to go anywhere on the east coast to
CNBC
Feb 2, 2010 6:00am EST
bernanke is in, senator. >> yes, he is. >> that's all right with you, though. you're going to be okay, right? >> i'm going to be okay. i offer my congratulations. but i think it does accepted a message to be confirmed by the lowest margin in history, sends a message about the concern about the role he played and the build-up to the crisis. >> yeah, but senator, you were ready to take the other side, knowing he would get confirmed, and your constituents can still say, well, at least this senator took the populus side. took the. >> i took the position as the only democrat taking that position after a careful review of the things he stood for, alignment with greenspan, failure to resfond derivatives. the failure on consumer protection, the things you are talking about in terms of prepayment penalties and liar loans and so i think he failed on many fronts but he is there now and i hope he does a great job on monetary policy and gets consumer protection in an agency that will care about it. >> senator, thanks. you have to keep coming back. >> thank you. >> oregon, oregon. i know how to say
CNN
Feb 10, 2010 6:00am EST
them like you hate a root canal. that means ben bernanke, you guys were the dentists. how does that make you feel the thing that everyone hates sts thing you had to do. >> i felt like i was having a root canal without anesthesia at the same time. there's a scene in my book "on the brink." and this was a day or two before we were going to need to step in and rescue citigroup. what really hit me was that i was forever going to be associated with these bailouts and the treasury secretary that did these interventions. then i said, that will be the good news. the bad news will be if we can't cobble together something that works for citigroup and it goes down, i'll be one who presides over another great depression. >> remember it was fanny and fred die and city citigroup and a whole host of other banks, ways to try to fix this without public intervention. he talks about the realization he was going to be forever knowns the guy behind the bailouts and how shocking it was. it came to him walking through the reagan library working through the citigroup stuff, the temple of free market t
CNN
Feb 10, 2010 9:00am EST
bernanke scheduled to testify before a house committee today. but this was all about unwinding the fed's $2.2 trillion emergency liquidity programs. the hearing has been postponed but his prepared testimony will be released at the top of the hour. several economic reports also being delayed today. on wall street expect light trading volume as folks focus more on the snow and less on stocks. despite all that, the dow is expected to continue to rise after yesterday's 150-point gain. investors are hopeful thedisney network rebounded but the theme parks continue to struggle. same for the movie studios. >>> google launching a new social networking service called the google buzz. it will allow users to post photos and links to their websites. yahoo! an microsoft claim they've been running similar services for years. >>> early numbers here, looks like we're down but just ever so barely. off 12 points. 10,046. still above 10,000. nasdaq off fractionally at this time as well. >>> finally, one more note. southwest airlines has slashed its ticket prices until tomorrow. the carrier is selling one-way t
CSPAN
Feb 25, 2010 12:00pm EST
, some news today. federal reserve chairman ben bernanke told the senate banking committee today and his second day of testimony on capitol hill this week that interest rates will have to stay low for a lengthy period to counter a weak job market. the u.s. central bank chief prepared remarks were virtually identical to those delivered yesterday to the house financial services committee. and cheaper nike also told lawmakers that goldman sachs and other wall street firms may be looking into a sophisticated instrument investment instrument to make bets that greece will default on its debts. also about the healthcare summit which you can see live on c-span3 and c-span.org, a story from yahoo news saying that a consensus on how to rein in spiraling healthcare costs seem to be emerging as president obama some that the president agreed with assertions by oklahoma republican senator tom coburn that abuse them out account up to a third of the cost of a time of programs like medicare and medicaid. and is a major barrier to worldwide insurance coverage. senator coburn said that the cost is the chie
CSPAN
Feb 15, 2010 7:00am EST
professor and no stranger to the audience at c-span2, douglas bernanke -- douglas brinkley. thank you for joining us this morning. guest: good morning. thanks for having me. host: if president stay were a holiday celebrating just one president, it there or one president to honor, who would it be for you and why? guest: i think the original, george washington. remember presidents day began as washington's birthday in 1880 and subsequently evolved, 1971 was started getting this concept of presidents day morphing of washington and lincoln's birthday and then the idea of just celebrating the institute of the president and having school children learn each president and what they look like and memorize the names. but washington is, in my view, the person we need to be celebrating on presidents' day. he did something very extraordinary as our first president, he stepped down. he showed you could relinquish power. that we were not going to become a market. he could have stayed in for life terms because he was that popular but i think it was the beginning of the tradition -- of the presence i
CSPAN
Feb 17, 2010 5:00pm EST
might not remember this because we probably didn't keep track of everything that paulson and bernanke and george bush did, but lehman falls on september 15. then what we have on september 23, the chairman of the federal reserve and the secretary of treasury come into congress and they testify that they need $700 billion. they have a 2 1/2-page bill. they don't know what they're going to do with the money. but if you don't give it to them, it's world is going to end. that makes you uncomfortable if you're deciding what to do with your investment. not only that, but the next day, the president of the united states comes on national television and says the following, speaking to the american people to get them calmed down a little bit. he said financial assets related to home mortgages have lost value during the housing decline and the banks holding these assets have restricted credit. as a result, our entire economy is in danger. so i propose that the federal government reduce the risk posed by these trouble assets and supply urgently needed money so banks and other financial institutio
HLN
Feb 10, 2010 6:00am EST
bernanke was scheduled to testify before the services committee and not any more. the hearing was postponed and may still release a plan at the top of the hour. it is expected to outline the bank's central plan and unwind programs that waere designed to get out of the crisis we're experiencing. disney says its fourth quarter results reflect, they are putting off travel plans to the last minute. the company had to rely on discounts. >>> finally, robin, we did a little digging, snow digging. 41 years ago today, that was the last time the new york stock exchange was closed for snow. last full snow day that they've had. no worries, they're at it today. they're down there and the nyc is open. it's kind of weird. 41 years ago today. >> they officially closed them, but not today. >> not today. >>> bracing for a blizzard is even tougher when you're already recovering from record-setting snow storm. how the nasty weather is affecting thousands of flights and a morning commute. this is from washington, d.c., i can tell. mostly from the call letters. >>> plus, one of tiger's alleged mistresses says he
HLN
Feb 25, 2010 6:00am EST
in three months and just a hair under 100 million. bernanke said yesterday that the job market remains weak even though the economy is recovering. there is some good economic news. everything from washing machines to airplanes jump 3d% in january and the second monthly increase in a row. >>> coca-cola is changing the way it does business. spending more than $12 million to buy the large bottler. from using independent bottlers to controlling the process. pepsi has recently moved in that direction, as well. >>> get this, a relative of burr nad madoff is changing her name. she is married to buernie's son mark. she filed court papers for herself and her two kids to drop the madoff name. she probably doesn't want that out there, robben . >> she just wants to leave the name alone. >> completely. she's still married. it's not that. it's just the name. >>> a teacher danceoff sounded like kind of a fun idea for a pep rally until it became a lap dance dance off. >>> one of the most taulked abot people at the olympics may be heading home. >>> if you're running late, you must not have signed up for my
HLN
Feb 25, 2010 12:00pm EST
today. >>> meantime, making headlines in the business world, fed chief ben bernanke back on capitol hill telling the senate committee that the central bank is looking into whether u.s. you banks worsened greece's debt crisis. some u.s. banks are said to use complicated currency swap to help greece understate the debt problems betting thalt country would default on its debt. coming up tomorrow, friday on wall street, we'll get key reports, consumer sentiment, existing home sales, also a revised reading on fourth quarter gdp, the final day of the trading week. >>> a lot of questions today about why a killer whale at seaworld turned on its trainer. next jane velez-mitchell host of "issues" will give her take on this tragic incident. don't go anywhere. >>> 40-year-old dawn brancheau was one of the most experienced trainers at orlando seaworld. her death is a shock to her co-workers and park visitors who saw this happen yesterday. a killer whale named tilikum dragged her under water at the end of a performance in the shamu stadium. audience members said, at first it just seemed like it was pa
CSPAN
Feb 15, 2010 12:00pm EST
to the audience at c-span2, douglas bernanke -- douglas brinkley. thank you for joining us this morning. guest: good morning. thanks for having me. host: if president stay were a holiday celebrating just one president, it there or one president to honor, who would it be for you and why? guest: i think the original, george washington. remember presidents day began as washington's birthday in 1880 and subsequently evolved, 1971 was started getting this concept of presidents day morphing of washington and lincoln's birthday and then the idea of just celebrating the institute of the president and having school children learn each president and what they look like and memorize the names. but washington is, in my view, the person we need to be celebrating on presidents' day. he did something very extraordinary as our first president, he stepped down. he showed you could relinquish power. that we were not going to become a market. he could have stayed in for life terms because he was that popular but i think it was the beginning of the tradition -- of the presence in beginning with washington. and ou
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